Precision Optics to Raise $2.5M in Stock Sale

The optical instrument manufacturer will collaborate with institutional and accredited investors to sell and purchase an aggregate of approximately 2.8 million shares of common stock, and five-year warrants to purchase up to approximately 1.9 million shares of common stock.

The unit price for the private placement is 90 cents; the warrants have an exercise price of $1.25 per share, subject to adjustment and a call provision.

Net proceeds will fund startup costs for the company’s previously announced microendoscopes order (See: Precision Optics Nabs $1M Endoscope Order), as well as other recently received orders for new products.

The technology of generating and harnessing light and other forms of radiant energy whose quantum unit is the photon. The science includes light emission, transmission, deflection, amplification and detection by optical components and instruments, lasers and other light sources, fiber optics, electro-optical instrumentation, related hardware and electronics, and sophisticated systems. The range of applications of photonics extends from energy generation to detection to communications and...